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The 5000 limit is going to be a problem for your sending requirements.
MLK includes its own mail server which allows you to send your messages without using the mail server of your ISP. This would allow you to avoid their 5000 limit.
However some mail servers will block messages that they recognize as originating from a local mail server (such as MLK's SMTP server). So to reach all your recipients you would need to use one of the automatic options that sends all failed messages via normal SMTP on the last attempt.
Alternatively you could use a third party mail service such as www.authsmtp.com or TZO.com